Fed Meeting, Oil Price, and Micron Earnings: Top Market Focus this Week

The Federal Reserve's interest rate decision and the current price of oil are among the key events to watch this week. Additionally, several major companies, including Micron and FedEx, will report their quarterly earnings. Nvidia's GTC conference is another significant event.

The week ahead is packed with market-moving events, headlined by the Federal Reserve's interest rate decision on March 18 and MU earnings after market close the same day. The FOMC meets March 17-18 with the federal funds rate currently at 3.50%-3.75%, and traders are assigning roughly 96% probability to the committee holding rates steady amid ongoing inflation concerns and geopolitical uncertainty .

Micron Technology is expected to report a record-breaking quarter, with company guidance calling for approximately $18.7 billion in revenue and gross margins around 68%, driven by surging AI-related memory demand. Analysts are even more optimistic, with consensus estimates projecting normalized EPS of $8.59 and revenue of $19.1 billion. Other key earnings reports from FDX are also due this week.

NVDA's GTC conference is another focal point, where CEO Jensen Huang is expected to showcase new AI capabilities. Oil prices remain a key variable for market sentiment, with energy costs feeding into broader inflation concerns. The convergence of the Fed decision, major tech earnings, and the GTC conference makes this one of the most consequential weeks for markets in 2026.